Profit Plus

Summary:LIC’s Profit Plus (Plan No.188) is a Unit Linked Endowment Insurance Plan. Profit Plus (ULIP) is designed for common man to enhance their savings and financial protection to their family. Four types of investment Funds are offered in Profit Plus. The Policyholder has the option to choose any ONE out of the following 4 funds. Bond, Secured, Balanced and Growth.

Features:

Payment of Premiums:
You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (ECS) intervals over the premium paying term of 3, 4 or 5 years. The minimum premium will be Rs.10,000/-.

Single premium:Single premium can be paid subject to a minimum of Rs.20,000/-.

Partial Withdrawals:
You may encash the units partially after the third policy anniversary subject to certain conditions.

Switching of Funds:
You can switch between any fund types for the entire Fund Value during the policy term subject to switching charges, if any.

Discontinuance of premiums:
If premiums are payable either yearly, half-yearly, quarterly or monthly (ECS) and the same have not been duly paid within the days of grace under the Policy, the Policy will lapse. A lapsed policy can be revived during the period of two years from the due date of first unpaid premium.

Settlement Option:
When the policy comes for maturity, you may exercise “Settlement Option” and may receive the policy money in installments spread over a period of not more than five years from the date of maturity. There shall not be any life cover during this period. The value of installment payable on the date specified shall be subject to investment risk i.e. the NAV may go up or down depending upon the performance of the fund.

• 5 times the Single premium if age at maturity is upto 55 years.
• 3 times the Single premium if age at maturity is 56 to 60 years.
• If Critical Illness Benefit Rider is not opted for:
• 5 times the Single premium if age at maturity is upto 65 years.
• 3 times the Single premium if age at maturity is 66 to 70 years.
• 2.5 times the Single premium if age at maturity is 71 years and above.

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to LIC of India within 15 days.

Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

Comments

To,
CRM, Srinagar
LIC J$K
Subject-clients are not satisfied with the surrendered value
I surrendered three ulip plans ( table No. 191 , Policy No. 142178079, Table No 188 Policies No,s 142009447, 142009446,142178369) prepared under my agency code 0113014E ( now expired) in R.S.Pura branch. My clients are not satisfied with the payment they received as surrendered value.
I request you to mail me the detail of above mentioned policies about-
No. Of units. allotted at the time of first premium paid and every renewal
No. Of units on surrendered date If they are less then why ?
NAV on surrendered date.

my son has invested an amount of 75000 in lic profit plus plan no 153607647 i wanted know what is the current rate of profit plus and how much amount will get of this policy pls send detailsof my e mail adds

sir,
my lic profit plus plan no. 188 policy no. 439474261 with effect from 10/9/ 2008
for 10000 three years. now i want to close the same please informe me the details please
actual exact amount i will get